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economy from going off the fiscal cliff in the new year. in fact, most experts believe a framework deal must be reac reached this week, most likely by thursday to give the house, ways and means and the senate finance committee several days to work the deal to legislative language. since it will be complex, likely to increase re-knew and cut entitlement spending if the lawmakers want a cost estimate with nonpartisan numbers from the congressional budget office, it would require several more days. the house g.o.p. requires that the bill be posted for parts of three days which means early next week in order for votes by the end of next week. veterans of past capital hill battles note the whip operation convincing lawmakers to vote for the legislation they barely seen will be critical. >> likely that both sides, the president and the speaker are going to have to twist arms, they are going to have to call people. they are going, you know, do anything they can to push a deal over the line. >> with christmas eve in two weeks, the president, lawmak
economy from going off the fiscal cliff in the new year. in fact, most experts believe a framework deal must be reac reached this week, most likely by thursday to give the house, ways and means and the senate finance committee several days to work the deal to legislative language. since it will be complex, likely to increase re-knew and cut entitlement spending if the lawmakers want a cost estimate with nonpartisan numbers from the congressional budget office, it would require several more...
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trade surplus to drop to its lowest level in the last six months, adding to fears that europe's largest economy will contract in the fourth quarter. more bad news from germany's struggling automaker opel. the european division of general motors says it is shutting down its plant in the western german city of bochum. >> opel has been struggling to remain competitive. but it is a bitter pill for the workers to swallow. some 3000 jobs are at stake. >> the writing was on the wall. the 3000 workers at the plant in bochum did not hide their frustration as they emerged from the meeting called by management this morning. >> we expected as much. at least the news is out now. >> it really was high time mr. sedran put his cards on the table. for the last year-and-a-half, nobody has been straight with us. >> it is pretty disgraceful. >> opel chief executive thomas sedran got straight to the point when he explained the reasons for halting production. >> the reason behind this is a local decision is the dramatic fall in demand -- the reason behind this difficult decision is the dramatic fall in demand. >> cu
trade surplus to drop to its lowest level in the last six months, adding to fears that europe's largest economy will contract in the fourth quarter. more bad news from germany's struggling automaker opel. the european division of general motors says it is shutting down its plant in the western german city of bochum. >> opel has been struggling to remain competitive. but it is a bitter pill for the workers to swallow. some 3000 jobs are at stake. >> the writing was on the wall. the...
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Dec 11, 2012
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economy. china, japan, malaysia, europe. there are people providing inputs to defense projects, commercially coming from all around the globe. >> guest: major military programs, the anti warfare program, the casey 46 tanker are actually commercial derivatives. they're built on the same line. a ticket out of the line only when you need to put in specialized equipment, and by that process using the commercial process to reduce the cost. >> there is the future. >> host: illinois, republican, >> caller: man. >> host: your on. >> guest: there is an old saying. we will talk on the war is over. we have been a war for 209 years how would you possibly think of cutting defense when in my humble opinion i think we could use fewer, less fat people and take care of entitlements. thank you. >> host: debra in ohio. democratic column. go ahead. >> caller: i was thinking, on this year fiscal cliff, to save money, why can't they put a tab on what these greedy hospitals, doctors, ambulance, lifelike, prescriptio
economy. china, japan, malaysia, europe. there are people providing inputs to defense projects, commercially coming from all around the globe. >> guest: major military programs, the anti warfare program, the casey 46 tanker are actually commercial derivatives. they're built on the same line. a ticket out of the line only when you need to put in specialized equipment, and by that process using the commercial process to reduce the cost. >> there is the future. >> host: illinois,...
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which is a republican driven economy up to this point. let's put those things in context ron and then we can have a full discussion -- >> i would love to put it in context. >> professor peterson -- >> you have to talk about oil companies. you have to talk about corporate subsidies the real entitlements in this country. >> i wish we had two hours to do that. goldie taylor, the great ron christie, and dr. james peterson, thank you all. if jeb bush is the front-runner for 2016, why didn't he run in 2012? stay with us. [ male announcer ] playing in the nfl is tough. ♪ doing it with a cold, just not going to happen. ♪ vicks dayquil powerful non-drowsy 6-symptom cold & flu relief. ♪ no matter what city you're playing tomorrow. [ coughs ] [ male announcer ] you can't let a cold keep you up tonight. ♪ vicks nyquil powerful nighttime 6-symptom cold & flu relief. ♪ [ male announcer ] can a car be built around a state of mind? ♪ announcing the all-new 2013 malibu from chevrolet. ♪ with a remarkable new interior featuring the available
which is a republican driven economy up to this point. let's put those things in context ron and then we can have a full discussion -- >> i would love to put it in context. >> professor peterson -- >> you have to talk about oil companies. you have to talk about corporate subsidies the real entitlements in this country. >> i wish we had two hours to do that. goldie taylor, the great ron christie, and dr. james peterson, thank you all. if jeb bush is the front-runner for...
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>>guest: we have a sluggish economy. you have to promise note growth in the economy. if you promote growth, revenues come in. they are worried about tax rates but they do not mean anything if you have less revenue coming in because you are slowing down as an economy and that is hitting the economy and already happening. >>neil: thank you, jim. they are off. these guys are racing because they just heard that their super hero is headed to ground zero, fully clothed in this battle to avoid a fiscal cliff as we try to bring both sides together we have arizona senator john mccain, and maryland democratic congressman, and florida republican senator subrow, and connecticut independent senator, lieberman, and former debt co-chair and i could go on but i told you i take it upon myself to fix this mess as if i'm not busy enough thank you but i am looking after you and this country and if they cannot put together something, yours truly can and if i have to show up in spandex, i will. >> six weeks after losing their home they are being kicked out of their temporary one. it goes d
>>guest: we have a sluggish economy. you have to promise note growth in the economy. if you promote growth, revenues come in. they are worried about tax rates but they do not mean anything if you have less revenue coming in because you are slowing down as an economy and that is hitting the economy and already happening. >>neil: thank you, jim. they are off. these guys are racing because they just heard that their super hero is headed to ground zero, fully clothed in this battle to...
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one of our next guests says they hurt the economy more than they help and he calls them jobs killers. a heated debate on the death tax coming up here. >>> but coming up next, more republican lawmakers are saying they are open to higher tax rates on the rich if they come with spending cuts. that's a really big if. we're going to speak with one gocongressman who will lay out the spending cuts he would like to see, he needs to see in order to vote on the higher taxes. >>> and we wanted to give you a heads up on a hot slide show on cnbc.com that highlights predictions that went wrong this year. one great example, doomsday forecast that the u.s. bond market would go bust. thankfully that did not happen. quite the opposite, as a matter of fact. there's more on the cnbc.com. check it out on our website. we're back on tv in just a moment. tdd# 1-800-345-2550 you should've seen me today. tdd# 1-800-345-2550 when the spx crossed above its 50-day moving average, tdd# 1-800-345-2550 i saw the trend. tdd# 1-800-345-2550 it looked really strong. tdd# 1-800-345-2550 and i jumped right on it. tdd# 1-
one of our next guests says they hurt the economy more than they help and he calls them jobs killers. a heated debate on the death tax coming up here. >>> but coming up next, more republican lawmakers are saying they are open to higher tax rates on the rich if they come with spending cuts. that's a really big if. we're going to speak with one gocongressman who will lay out the spending cuts he would like to see, he needs to see in order to vote on the higher taxes. >>> and we...
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that is even bigger crisis than if we let the bond market collapse and let it take the economy with it. liz: let's not start so macro. we're throwing out this term the bond market. a lot of our viewers on treasurys what specifically are you talking about? the entire yield curve? >> well, the government is borrowing over a trillion dollars a year right now and i put borrowing in quotes because borrowing implies that you will pay it back. we will never pay it back. we can't pay it back. that's why we have to raise the debt ceiling because we can't pay our bills. we have to borrow more money from the same people who loaned us money in the first place. it is a giant ponzi scheme. liz: what would cause the back to break of this scheme that you call it? >> well, as creditors don't want to buy treasurys and only buyer left is the federal reserve, i mean you still have foreign central banks. but they will back away. if the fed is the only buyer it has to print an enormous amount of dollars to buy upp3 all the maturing bond and all the new bond and that sends the dollar collapsing and prices sk
that is even bigger crisis than if we let the bond market collapse and let it take the economy with it. liz: let's not start so macro. we're throwing out this term the bond market. a lot of our viewers on treasurys what specifically are you talking about? the entire yield curve? >> well, the government is borrowing over a trillion dollars a year right now and i put borrowing in quotes because borrowing implies that you will pay it back. we will never pay it back. we can't pay it back....
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the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. ♪ social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future... of these programs into a last minute budget deal... we'll all pay the price. aarp is fighting to protect seniors with responsible... solutions that strengthen medicare and... social security for generations to come. we can do better than a last minute deal... that would hurt all of us. >>> certainly one of the most controversial nfl halftime shows since janet jackson's notorious costume malfunction. but the subject this time is deadly serious. in the wake of the murder/suicide by the kansas city chiefs player javon belcher, nbc sportscaster bob costas criticized what he called the gun culture. and he said that -- that he said contributed to the tragedy. he sat down to talk about it with cnn's piers morgan. >> 70% or more footballers apparently carry gu
the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. ♪ social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future... of these programs into a last minute budget deal... we'll all pay the price. aarp is fighting to protect seniors with responsible... solutions that strengthen medicare and... social security for...
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i don't think the economy is strong enough to have continued quarterly increases. i think we're going to see this probably for the next six months. you're going to have some good reports. jobless claims will probably get better going fod.
i don't think the economy is strong enough to have continued quarterly increases. i think we're going to see this probably for the next six months. you're going to have some good reports. jobless claims will probably get better going fod.
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this was not something that -- may have hurt the economy and something republicans blamed for. look at the numbers. terrible. not just only as a party but particularly in congress right now. you know, this is not -- this is not a long-term winning game i don't think for republicans to hold up every agreement claiming leverage where they don't have it. i think they need to find in order to do better areas they have got more public support than they seem to have on the issues. 60% according to a new politi politico/george washington university poll believes the top should have an increase in taxes. fighting the public and appear to be ideological doesn't seem to work. certainly didn't in terms of knocking president obama off. >> one thing that also didn't work in 2011 was the president ab do kating the role to nancy pelosi and harry reid. this time around, maybe because he feels he has the mandate, he's doing the negotiations straight on with boehner which i think leads to a better result. this is an overall different approach in his leadership whether it's because he's thinking
this was not something that -- may have hurt the economy and something republicans blamed for. look at the numbers. terrible. not just only as a party but particularly in congress right now. you know, this is not -- this is not a long-term winning game i don't think for republicans to hold up every agreement claiming leverage where they don't have it. i think they need to find in order to do better areas they have got more public support than they seem to have on the issues. 60% according to a...
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economy needs is giving a larger footprint to the chinese system. china's corporate criminals who are often inditing wishable. we don't want to give the chinesing nomic sift apple larger footprint into american capitalism. secondly, this makes a mock rift green energy policies. the main rational for which was we don't want these so-called industries of the future controlled by foreign countries and by foreign companies. and here we are, transferring all of this property over to a chinese company. and there was an american buyer. there was an american buyer. an american-owned option. >> on that point, alan, is there any sensitive technology or information that is going to be given to the chinese through this trance ak. >> that's a great question, mandy. you are broadcasting from northern jersey, right sni think you recently you learned how important electricity grids are, right? when you don't have electrical power bb life becomes very bad. a123 is making product that helps control the electricity grid system. do we want the chinese owning this techn
economy needs is giving a larger footprint to the chinese system. china's corporate criminals who are often inditing wishable. we don't want to give the chinesing nomic sift apple larger footprint into american capitalism. secondly, this makes a mock rift green energy policies. the main rational for which was we don't want these so-called industries of the future controlled by foreign countries and by foreign companies. and here we are, transferring all of this property over to a chinese...
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that's how we grow an economy. i want us to bring down our deficits but i want to do it in a balanced, responsible way. and i want to reward -- i want -- businesses and manufacturers like detroit diesel, right here, creating jobs, right here, in redford, right here in michigan, right here in the united states of america. that's where we need to go. that's the country we need to build. and when it comes to bringing up manufacturing back to america, that's why i'm here today. since 1938, detroit diesel has been turning out some of the best engines in the world. over all those years, generations of redford workers have walked through these doors. not just to punch a clock, not just to pick up a paycheck, not just to build an engine, but to build a middle class life for their families, to earn a shot at the american dream. for 7 1/2 decades, through good times and bad, through revolutions and technology that sent a lot of good jobs, manufacturing jobs overseas, men and women like you, your parents, maybe even your gran
that's how we grow an economy. i want us to bring down our deficits but i want to do it in a balanced, responsible way. and i want to reward -- i want -- businesses and manufacturers like detroit diesel, right here, creating jobs, right here, in redford, right here in michigan, right here in the united states of america. that's where we need to go. that's the country we need to build. and when it comes to bringing up manufacturing back to america, that's why i'm here today. since 1938, detroit...
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that's how we grow an economy. i want us to bring down the deficits but i want to do in it a balanced, responsible way. and i want to reward -- i want a tax code that rewards businesses and manufacturers like detroit diesel right here creating jobs right here in redford, right here in michigan, right here in the united states of america. that's where we need to go. that's the country we need to build. and when it comes to bringing up manufacturing back to america, that's why i'm here today. since 1938, detroit diesel has been turns out some of the best engines in the world. over all those years, generations of redford workers have walked through these doors. not just to punch a clock. not just to pick up a paycheck. not just to build an engine. but to build a middle class life for their families. to earn a shot at the american dream. for seven and a half decades, through good times and bad, through revolutions in technology that sent a lot of good jobs, manufacturing jobs overseas, men and women like you, your pare
that's how we grow an economy. i want us to bring down the deficits but i want to do in it a balanced, responsible way. and i want to reward -- i want a tax code that rewards businesses and manufacturers like detroit diesel right here creating jobs right here in redford, right here in michigan, right here in the united states of america. that's where we need to go. that's the country we need to build. and when it comes to bringing up manufacturing back to america, that's why i'm here today....
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he's going to talk about the economy and fiscal cliff within the hour. we'll go to that live. >>> first to florida. that's where we learn new details about a long running mystery. in the town marianna and they have found more grave sites on the grounds a school that closed last century. nobody knows how many boys may be buried there and what abuse he suffer the at that school. ed lavandera spent years investigating the story, and he has the details. >> a mystery haunting the ground of this now defunct school for boys in marianna involving teenage boys sent here decades ago, some never seen again. in recent years former students in "twilight" years have come forward with horrific stories of punishing aaabuse doled out by school leaders and friends that vanished, stories told by cnn. they accused former school leaders of beatings, sexual abuse and even murder. which brings us to this cemetery on the school's grounds. the bodies of 31 boys are buried here. florida authorities claim they know how all the boys died, some killed in a fire and symptom in a flu
he's going to talk about the economy and fiscal cliff within the hour. we'll go to that live. >>> first to florida. that's where we learn new details about a long running mystery. in the town marianna and they have found more grave sites on the grounds a school that closed last century. nobody knows how many boys may be buried there and what abuse he suffer the at that school. ed lavandera spent years investigating the story, and he has the details. >> a mystery haunting the...
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children and grandchildren born in this country, have contributed -- continued contributing to this economy, and giving them the opportunity to get in the back of the line for possible citizenship down the line, that's considered amnesty, but aattack amnesty, let's talk about that and celebrate. let's remove amnesty for a bit from the discussion, because it will never be amnesty. you're not going to have a blanket one day to the next situation where 11 million people will all of a sudden get their citizenship papers in the mail. it's not that way. the options are, two, do you just ignore 11 million people that have contributed and continue contributing to this economy and to the culture of this country, or do you deal with it in a rationale way? that means the extremes on both sides of the issue need to be mitigated somehow. on the left you have people who say absolutely no way that these people can get any kind of, you know, positive future for them because they'll never join a union. on the other side, you have people who say under no circumstances should these people be granted anything
children and grandchildren born in this country, have contributed -- continued contributing to this economy, and giving them the opportunity to get in the back of the line for possible citizenship down the line, that's considered amnesty, but aattack amnesty, let's talk about that and celebrate. let's remove amnesty for a bit from the discussion, because it will never be amnesty. you're not going to have a blanket one day to the next situation where 11 million people will all of a sudden get...
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when we look at it through the global lens, it's still not enough if the global economy grows by 3.1% as morgan stoply's economists expect. >> copper is getting a nice bid today. do you see that continuing and what about, you know, throughout the precious metal space? >> so on copper, first and foremost, copper is our favorite base metal amongst the base metals. you've seen a supply response in copper but that supply response has lagged the supply response you're seeing in some of the other base metals. we don't like the aluminiums, the zings, but we do like copper. the relatively low level of inventories in china and globally constructed for copper. now on your question with respect to precious metals, we like gold, we like gold since two,000 six when i joined morgan stoply and we continue to like it. solely because real rates are likely to remain depressed through 2013. the fed have been very clear on their policies. and growth is still very uncertain. our 3.1% gdpforecast depends on policy working, and that policy means, you know, low real rates going forward. >> you're looking for
when we look at it through the global lens, it's still not enough if the global economy grows by 3.1% as morgan stoply's economists expect. >> copper is getting a nice bid today. do you see that continuing and what about, you know, throughout the precious metal space? >> so on copper, first and foremost, copper is our favorite base metal amongst the base metals. you've seen a supply response in copper but that supply response has lagged the supply response you're seeing in some of...
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that'll be a problem for our economy. people will not be engaged unless they have clarity in this thing. i have more faith in this institution. after the end of the day, you do the right thing. if you look at the history of this body, it roughly comes up with the right answer. we have not dealt with the debt ceiling since the beginning of this country. i think we are very capable and we can do it. >> i will respond by saying that we have been trying to deal with our cascading debt and deficit for decades. i would say that we have been far short of doing the right thing to look for a healthy fiscal future. >> thank you, senator. >> i agree that we usually do the right thing but only after we try everything else. the time has come. i see this as a scary time. we need to protect our fragile economy, but it is also an opportunity to move forward. my first question is based on your predictions -- what do you think the timeframe is for possible further downgrades from the credit rating agencies? >> this is my interpretation. i
that'll be a problem for our economy. people will not be engaged unless they have clarity in this thing. i have more faith in this institution. after the end of the day, you do the right thing. if you look at the history of this body, it roughly comes up with the right answer. we have not dealt with the debt ceiling since the beginning of this country. i think we are very capable and we can do it. >> i will respond by saying that we have been trying to deal with our cascading debt and...
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second, the continued decline in interest rates, while good for the overall economies, and packs the actuaries model by higher defaults as well as lost revenue to fha as borrowers pay off their mortgages to refinance at lower rates. third, basin recommendations made by the heads ig and in the drug of fha, this year's report the actuary change the way it reflects defaulted loans and reverse mortgages in the economic value of the underlying fund. let me be clear, these are all important factors to continue, to consider when considering the funds. they do not minimize the seriousness of this report anyway. as i said at the outset, we have already taken significant action to strengthen the fund, including premium increases, changes to credit policy, such as increasing down payments were lower credit score borrowers, intending self financed down payment assistance. with your help, our efforts have added well over $32 billion to the fund. measures i've outlined today further address the primary source of the problem. losses stemming from legacy books of business, particularly those injured
second, the continued decline in interest rates, while good for the overall economies, and packs the actuaries model by higher defaults as well as lost revenue to fha as borrowers pay off their mortgages to refinance at lower rates. third, basin recommendations made by the heads ig and in the drug of fha, this year's report the actuary change the way it reflects defaulted loans and reverse mortgages in the economic value of the underlying fund. let me be clear, these are all important factors...
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with a turbo-charged ecoboost engines and a hybrid that doubles the fuel economy of the average vehicle. it's an entirely new idea of what a car can be. >>> so, if you thought the problem in syria was bad, how about this. the chemical weapons situation, the fear that perhaps bashar al assad might actually use chemical weapons on his own people now being exacerbated on a report that perhaps the blame is coming back to us and the accusation from the syrians that we're trying to actually get a hold of those chemical weapons and make it look like the syrian regime has done so. fareed zakari's back with us to talk about this report. it seems as though this is rather serious. only the government, assad's administration has sent a couple of letters to the u.n. suggesting this is all a big plot by the u.s. to get those weapons into the hands of opposition members and then blame the syrians. does this seem logical or like a reach? >> i think it's part of a strategy that the assad regime has decided upon, which is that america is the cause of this. that there is an internal group of terrorists su
with a turbo-charged ecoboost engines and a hybrid that doubles the fuel economy of the average vehicle. it's an entirely new idea of what a car can be. >>> so, if you thought the problem in syria was bad, how about this. the chemical weapons situation, the fear that perhaps bashar al assad might actually use chemical weapons on his own people now being exacerbated on a report that perhaps the blame is coming back to us and the accusation from the syrians that we're trying to actually...
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republicans going forward to keep this economy on track. again, he's going to make the point that the tax rates need to go up for the top 2% of americans. trying to put that pressure, again, on republicans. just a couple days -- just a day, we should say, after meeting with speaker of the house john boehner. that happened here. the first time the two of them have met one on one alone since the debt ceiling crisis of last july. about a year and a half ago. and they'd only sat at a table together just about a month ago. so there appears to be some progress. and there is a need for progress, thomas, to take place right now. if the deadlines that some of these folks have set, including speaker boehner, if they want to have legislation passed by the 21st, they're going to need to make real progress in writing up that legislation this week. >> yeah. the crunch time is really on. peter alexander, who is classing up the joint there. look at that background. peter alexander in front of the white house. >> looks pretty good. >> thank you, peter. grea
republicans going forward to keep this economy on track. again, he's going to make the point that the tax rates need to go up for the top 2% of americans. trying to put that pressure, again, on republicans. just a couple days -- just a day, we should say, after meeting with speaker of the house john boehner. that happened here. the first time the two of them have met one on one alone since the debt ceiling crisis of last july. about a year and a half ago. and they'd only sat at a table together...
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sanctions of iran was to study the economy of iran. look for have anotherabilities in their financial system and their trade system and that kind of approach has not been applied to north korea very effectively. therefore the sanctions have been rather porous. i would bet north korea buys a lot of things for its missile program in china. we know they buy things for their gas centrifuge program in china. some things are made in germany. probably made in the u.s. china has been a major gap in this whole system. on sanctions and north korea could face tougher action from china might constrict some of its ability to buy things that it absolutely needs for its nuclear programs. jon: you think it is likely american-made technology is helping north korea with its missile program? >> could be. i don't know the missile program nearly as well as the nuclear but what north korea does, it uses china a sense as a transshipment point because many companies, high-tech companies from america, from europe, have subsidiaries in china, selling to chinese
sanctions of iran was to study the economy of iran. look for have anotherabilities in their financial system and their trade system and that kind of approach has not been applied to north korea very effectively. therefore the sanctions have been rather porous. i would bet north korea buys a lot of things for its missile program in china. we know they buy things for their gas centrifuge program in china. some things are made in germany. probably made in the u.s. china has been a major gap in...
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this will break records and this will show that the economy is recovering. the shipments to buy these companies are indicators that by as a buyer gifts on- line this will help them. we're not using the high and services over night with no two or three day deliveries. it is nice to see that they're doing good. >> let's talk about china. they passed a japan and we have a prediction--2030 is a new year that is out by independent study. they are continuing to grow and this research stated that russia will probably weigh but china will grow. they stated that american will remain the worldwide leader because we found ways to get oil. some of your money has to go to the international market. i like china as a long-term player. >> $50 million for a pepsi commercial. this is a smart mold for her.move for her. beys a big deal with them. they're all advertising rebel, a toyota and their advertising by using musicians. they are supporting the artist. >> the company that sells soda support-- >> on to bay area traffic. >> we start with a live look in the city on our roof
this will break records and this will show that the economy is recovering. the shipments to buy these companies are indicators that by as a buyer gifts on- line this will help them. we're not using the high and services over night with no two or three day deliveries. it is nice to see that they're doing good. >> let's talk about china. they passed a japan and we have a prediction--2030 is a new year that is out by independent study. they are continuing to grow and this research stated...
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Dec 10, 2012
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first of all, everyone understands the economy is not so good. that's a tough thing when you're asking people to put money they don't necessarily have on the barrelhead. but beyond that we're seeing -- rock 'n' roll's aged to the point where it's no longer the dangerous thing it once was. you hear it in commercials. people -- i see 6-year-old gills with purng rock hair. those images and that sim beeology is not as dangerous as it once was. so to continue to be as dangerous in an environment that no one sees as dangerous is difficult. >> good luck with your tour, billy corgan. we'll be right back. you're watching "cbs this morning." [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through it. is she for real? your generation has it made. [ m
first of all, everyone understands the economy is not so good. that's a tough thing when you're asking people to put money they don't necessarily have on the barrelhead. but beyond that we're seeing -- rock 'n' roll's aged to the point where it's no longer the dangerous thing it once was. you hear it in commercials. people -- i see 6-year-old gills with purng rock hair. those images and that sim beeology is not as dangerous as it once was. so to continue to be as dangerous in an environment...
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Dec 10, 2012
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and major result for the economy. people having fewer babies, blaming the economy and one woman who took a chance and had six children anyway. we'll have that and of course the opening bell right after this. >> less than a minute to the opening bell. there's the news background that says that consumer spending wobbles. consumer spending-- unemployment rate at four year low. the only reason it's down is because the 350,000 people stopped lookinggfor work and the work force shhank and that's surely not good news. in a moment you're going to see if you look carefully at the lower box there on the left-hand side of the screen, those people there are the telemundo actors ringing the bell today for the nasdaq and they put their names down here, i'm afraid i don't have them handy available. they're actors. and the dow stills are off and running and we weren't expecting a big opening. we're pretty flat. dow industrials down 4. that's it. but we have mcdonald's reporting better than expected sales in november. remember the pre
and major result for the economy. people having fewer babies, blaming the economy and one woman who took a chance and had six children anyway. we'll have that and of course the opening bell right after this. >> less than a minute to the opening bell. there's the news background that says that consumer spending wobbles. consumer spending-- unemployment rate at four year low. the only reason it's down is because the 350,000 people stopped lookinggfor work and the work force shhank and...
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Dec 10, 2012
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and then there's the wall street economy. and i must tell you that i had this whole big plan out to give evidence and actually walk you through why i was convinced after last week that this recession call, no matter what happens with the fiscal cliff, is going to happen to 2013. but then i spoke with my greatest source in terms of the overall markets. this is the guy who gave u.s. the heads-up in terms of what's happening with apple when he follows the mutual fund holdings and that turned out to be the absolute best indicator on the top and when it became oversold. so this is what rich said to me, forget about what people are telling you in the real economy. when you manage money it's about what the stock market is thinking. these are the pivotal five reasons why the stock market will go higher into the end of the year and early next year. it's very simple. contra investment sentiment. you can't find anyone bullish on the stock market other than a handful of strategists. bond fund inflows. if we were anywhere near our top of
and then there's the wall street economy. and i must tell you that i had this whole big plan out to give evidence and actually walk you through why i was convinced after last week that this recession call, no matter what happens with the fiscal cliff, is going to happen to 2013. but then i spoke with my greatest source in terms of the overall markets. this is the guy who gave u.s. the heads-up in terms of what's happening with apple when he follows the mutual fund holdings and that turned out...
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Dec 10, 2012
12/12
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republicans say it will hurt the economy. congressman tom price out of georgia saying quote, the tax on medical devices harms america's ability to conduct necessary research and development maintain our global competitiveness resulting in loss of tens of thousands of jobs and fewer groundbreaking innovations in this field. with millions of americans unemployed this simply makes no sense. stephen moore, senior writer for "the wall street journal." how are you doing, steve? good morning. >> hi, bill. bill: they're saying 43,000 jobs because of this. what, a latex glove gets taxed? i thought it was just like on mri machines and big items like that? >> actually, no. thank you for doing this segment because a lot of americans don't realize when the president calls for all the new taxes in the fiscal cliff negotiation, mr. president we already have a big tax increase that will hit on january 2nd. that of course is the obamacare taxes. you mentioned one of them, the tax on medical devices and medical equipment, bill, which i agree w
republicans say it will hurt the economy. congressman tom price out of georgia saying quote, the tax on medical devices harms america's ability to conduct necessary research and development maintain our global competitiveness resulting in loss of tens of thousands of jobs and fewer groundbreaking innovations in this field. with millions of americans unemployed this simply makes no sense. stephen moore, senior writer for "the wall street journal." how are you doing, steve? good...
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Dec 10, 2012
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getting the money to grow the economy and unleash the power. she didn't know if a top tax rate of 37% would bring in sufficient revenue. >> handouts. entitlements. social security. >> social security? >> stephanie: can't say that. too many ss. >> the 47%. >> stephanie: okay. >> drunk uncle. >> stephanie: the white house has said 39.6% is its preference but has not ruled out 37%. [ wah wah ] the white house believes it has the leverage because it is willing to go off the cliff which is what they have said. that's why i don't get why we compromise on the rate. why wouldn't we go off the cliff and get the rate we're supposed to get and fix it two weeks into january or whatever. hmm. boehner and obama spoke wednesday. but let's see. blah, blah blah. top administration official visited house republicans thursday to say the president isn't budging. boehner facing reporters asked when the about the would take a step toward us. >> come on. >> stephanie: really? >> he's gotta compromise. >> stephanie: okay. >> we're not going to compromise. >> if we wer
getting the money to grow the economy and unleash the power. she didn't know if a top tax rate of 37% would bring in sufficient revenue. >> handouts. entitlements. social security. >> social security? >> stephanie: can't say that. too many ss. >> the 47%. >> stephanie: okay. >> drunk uncle. >> stephanie: the white house has said 39.6% is its preference but has not ruled out 37%. [ wah wah ] the white house believes it has the leverage because it is...
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Dec 10, 2012
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first, let me tell you what's going right in the economy for consumers. there's a whole host of things. the job markets, 7.7% unemployment, the lowest in four years. you've got the housing market showing signs of recovery. rising home values in much of the country. gas prices, did you notice? they're down 46 cents over the past couple of months. they're expected to keep going lower and the dow is up 20 points now. the dow is above 1,300 and the s&p 500 is up 12% this year. so, what could go wrong? fiscal cliff. this is something weighing op consumer sentiment and we're starting to see it in the weekly -- look at this -- 39% said it would affect it some. they don't seem to have much faith in congress to fix it and any time except 11th hour and maybe a week into the new year and there's this payroll tax holiday that most people have been enjoying now for well over a year. almost two years now. it's about 20 for somebody who earns say $50,000, but they're getting extra because the payroll tax deduction has been changed a little. they're getting a break on th
first, let me tell you what's going right in the economy for consumers. there's a whole host of things. the job markets, 7.7% unemployment, the lowest in four years. you've got the housing market showing signs of recovery. rising home values in much of the country. gas prices, did you notice? they're down 46 cents over the past couple of months. they're expected to keep going lower and the dow is up 20 points now. the dow is above 1,300 and the s&p 500 is up 12% this year. so, what could go...
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Dec 10, 2012
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on wall street, stocks ended mixed following news the economy added more jobs than predicted. the unemployment rate fell to a four year low of 7.7%. the dough closed up 81 points on friday while the nasdaq dropped 11 point. president obama and house speaker john boehner met to try to prevent the impending fiscal cliff. the tax hikes and spending cuts due to kick in on january 1st. the main sticking points remain, and cuts to entitlement programs medicare. the president has asked congress to work through the holiday break if no deal is reached before then: the federal reserve is expected to announce an expansion o of their program. they will extend the program of buying $85 billion of securities each month into the the new year. announcement is expected when the bankers meet tomorrow and wednesday. a new survey shows pay for private college presidents continues the upward climb. they studied data from 2010 and median compensation rose to $400,000. that is up nearly 3 personality. that's a -- percent. that's a pretty good paying job there. very lucrative. >> cbsmoneywatch.com, t
on wall street, stocks ended mixed following news the economy added more jobs than predicted. the unemployment rate fell to a four year low of 7.7%. the dough closed up 81 points on friday while the nasdaq dropped 11 point. president obama and house speaker john boehner met to try to prevent the impending fiscal cliff. the tax hikes and spending cuts due to kick in on january 1st. the main sticking points remain, and cuts to entitlement programs medicare. the president has asked congress to...
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Dec 10, 2012
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what impact will that have on the economy overall? and really, quite frankly, if these tax cuts expire for everyone, it means the middle class will see an enormous tax increase upwards of $2,200 per family on average. that's unacceptable either. my sense is that, having been around for 14 years, we will get to some point of an agreement. the real will be whether john boehner will rely on democratic votes to get this passed. >> i guess the question is -- and everybody would agree on the tax thing. taxing the middle class, there's nobody standing up and saying, yes, taxes should go up on the middle class. let's put that in one category. the next category, which "the wall street journal" points out, is the spending issue. what gets cut? if we have a spending deficit of $1.3 trillions. we're over on our budget $1.3 trillion. what aggressively will democrats bring to the table for cuts realistically once the tax issue is passed? >> well, i can think of something that should have been done a while ago, which is that there should be a change
what impact will that have on the economy overall? and really, quite frankly, if these tax cuts expire for everyone, it means the middle class will see an enormous tax increase upwards of $2,200 per family on average. that's unacceptable either. my sense is that, having been around for 14 years, we will get to some point of an agreement. the real will be whether john boehner will rely on democratic votes to get this passed. >> i guess the question is -- and everybody would agree on the...
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Dec 10, 2012
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across our economy. it has spread across the global economy. -- parts acquisition, technology acquisition has read not only across our economy. it has spread across the global economy. guest: the number of major military programs are built at commercial derivatives. they take it out of the line on the need specialized equipment and by that process, the cost can be reduced. host: sam in illinois, republican caller. caller: there is this old saying that goes, we will talk when the war is over. our country is roughly 235 years old. we have been at war for 209 years. how could you possibly think of cutting defense? we could use less -- take care of entitlements. host: deborah, your honor. caller: why can they put a cap on what these greedy hospitals, doctors ambulance, a lifelike, prescriptions -- why cannot the cap and what they are allowed to charge -- why can't they put a cap on what they are allowed to charge? also, putting money overseas, why can we keep it here where we need it-- can't we keep it ehre
across our economy. it has spread across the global economy. -- parts acquisition, technology acquisition has read not only across our economy. it has spread across the global economy. guest: the number of major military programs are built at commercial derivatives. they take it out of the line on the need specialized equipment and by that process, the cost can be reduced. host: sam in illinois, republican caller. caller: there is this old saying that goes, we will talk when the war is over....
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Dec 10, 2012
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we changed our plan and did something about our economy. now we know where to go for help if things change again. call or come in today to take control of your personal economy. get free one-on-one help from america's retirement leader. this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. >> steve: shaq aclause is coming to town, teaming up with toys r us and toys for tots, fourth year in a row to give gifts to kids in need. this year he's even adding with his shaq santa sack for children affected by hurricane sandy. >> brian: look who is here, shaquille o'neal. welcome back for a great cause. >> how are you doing? hello. >> gretchen: hello. >> nice to see you again. >> gretchen: thank you. >> brian: you grew up, it was all about giving back. you watched your dad in the army helping kids
we changed our plan and did something about our economy. now we know where to go for help if things change again. call or come in today to take control of your personal economy. get free one-on-one help from america's retirement leader. this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male...
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Dec 10, 2012
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it does less destruction to the economy. but the most important thing for anybody to look at, we spend so much time on revenue, is what is the spending? just like the first two months. revenue's gone up 10% with us doing nothing. spending has gone up 16%. >> all right. one thing that i knew that $800 billion number, i knew that sounded familiar. i wouldn't really quite place it. so that's ten years of raising the rates on the high end, but we got -- we spent that with one little stimulus plan, didn't we? just boom. wasn't that $800 billion. that's ten years of the high end and we spent that in the first year of his administration like it was -- i mean that was gone before -- i mean i wish we had that back then we wouldn't need this $800 billion. >> exactly. and look at this. the president's proposal, we get $31 billion from the high end this year but he proposes a $50 billion new stimulus package next year, as well. he will spend more. he's asking for more taxes to spend more. that will get us in a worse situation. the best
it does less destruction to the economy. but the most important thing for anybody to look at, we spend so much time on revenue, is what is the spending? just like the first two months. revenue's gone up 10% with us doing nothing. spending has gone up 16%. >> all right. one thing that i knew that $800 billion number, i knew that sounded familiar. i wouldn't really quite place it. so that's ten years of raising the rates on the high end, but we got -- we spent that with one little stimulus...
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Dec 10, 2012
12/12
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MSNBC
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we cannot allow the reckless position drive this economy into another recession, a recession the republicans will own. >> a white house aid says they have kept the press's schedule open as you would expect. >>> despite these contentious fiscal cliff negotiations there's one thing democrats and republicans can agree on. as of today hillary clinton would be an unstoppable candidate if she runs for president in 2016. even former speaker newt gingrich was praising the secretary of state yesterday on "meet the press." he worries that the republican party won't stand a chance if clinton makes another run for president. >> she's a very formidable as a person and is a very confident person. she is married to the most popular democrat in the country. they both think it would be good for her to be president. that makes it virtually impossible to stop her for the nomination i think, and i thought she was frankly going to be a nominee in '08. every republican should be focused on what we're talking about. if their competitor in '16 is going to be hillary clinton and supported by bill clinton and barack
we cannot allow the reckless position drive this economy into another recession, a recession the republicans will own. >> a white house aid says they have kept the press's schedule open as you would expect. >>> despite these contentious fiscal cliff negotiations there's one thing democrats and republicans can agree on. as of today hillary clinton would be an unstoppable candidate if she runs for president in 2016. even former speaker newt gingrich was praising the secretary of...
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pelosi says no matter how many ways republican workers try to spin it right to work is bad for our economy and bad for the middle class. it has nothing to do with ex handing workplace minimums. over the weekend union organize nierzs continue to prepare their members for take to go the streets this week staging demonstrations against the measure. if the vote goes through tomorrow will will deal a significant blow>> now it is time to look whose talking in this morning's congress is talking. if you do as usual they aren't agr agreeing. congressman took to the airwaves to attack what he called the president's bait and switch tax hike that could push it over the fiscal cliff. >> if he would do what he said before the election as oppose to do the bait and switch what republicans like is like jerry bro brownicing t cooking the footba. >> the talk of taxes is almost irrelevant to the size of the trillions and trillions of debt. >> unwilling to compromise the democrats new york center chuck schumer said republicans should go ahead and make his day. >> debt ceiling will be part of the griement. i th
pelosi says no matter how many ways republican workers try to spin it right to work is bad for our economy and bad for the middle class. it has nothing to do with ex handing workplace minimums. over the weekend union organize nierzs continue to prepare their members for take to go the streets this week staging demonstrations against the measure. if the vote goes through tomorrow will will deal a significant blow>> now it is time to look whose talking in this morning's congress is talking....